Ten years ago today... I graduated from high school. I couldn't imagine what today would be like,...
The world seems to be accelerating at an ever increasing pace. This upcoming year, it is no different. As the trend of AI tools and low-code platforms create an increasing amount of citizen developers, I ask myself "What's next?".
As more businesses strive to automate and streamline their processes, there will be a growing need for machine learning.
I predict that machine learning will become "democratized" and be a powerful tool in any savvy business persons arsenal. I believe with this democratization, it help small businesses gain insights into customer data and automate processes for a competitive edge. If you're looking for the next edge... I think being on the forefront of citizen machine learning is the move.
This article will look at how machine learning technology can be leveraged by small to medium businesses (SMBs) in 2023 to stay ahead in an ever-changing market.
What is Machine Learning?
Machine learning is a form of artificial intelligence that has been rapidly evolving in recent years. It is the study of algorithms that allow computers to learn from data and improve their performance without being explicitly programmed.
By 2023, machine learning will be used in many different fields, from healthcare to finance, to automate processes that make tasks more efficient. This blog will explore how machine learning will revolutionize the way we interact with technology across various industries.
I believe there will come a time in the near future where machine learning, in some capacity will permeate every industry in varying degrees.
Utilization of Customer Data
It is a near universal problem for small to medium businesses to struggle with their data, and data hygiene. Customer data is one of the most valuable assets that any business possesses, yet it is often underutilized or not used to its full potential.
With machine learning and a good database, SMBs can gain deeper insights into customer behavior and preferences that could not be obtained through traditional methods such as surveys or interviews.
This data can then be used to inform marketing strategies and product development decisions, helping businesses stay ahead of the competition.
With the power of Machine Learning, we will be able to pivot more quickly and decisively!
Your Personal Assistant
Machine learning can also help automate mundane tasks such as responding to customer inquiries or processing orders more quickly and efficiently than manually completing them would allow.
There are awesome native features on no code tools like Zapier, which allows for basic ML features! Automation frees up precious human time and energy, to focus on more complex tasks, while still providing customers with a quality service.
Additionally, automation helps reduce errors that may occur during manual processes due to human error or fatigue.
Predictive Analytics
Another benefit of using machine learning technology is increased accuracy in predictive analytics which allows small businesses to anticipate changes in consumer demand before they happen, giving them an advantage over their competitors who are slower to react when trends change suddenly.
Machine learning will help us better understand our customers, and for the consumer-centric organization, this will be huge! How awesome will it be when we understand our customers problems, needs, and wants well before they even realize it for themselves?
I believe that in the coming years, the businesses that keep their customers needs at the forefront, and can quickly pivot to meet those ever changing needs, will be the ones who expand their footprints.
Looking Forward to the Future
In 2023, leveraging machine learning technology will give small to medium sized businesses access to powerful tools for gaining insights into customer behavior. It will help automate mundane tasks, and up-cycle human capital to more rewarding endeavors. It will allow us to continue to compete and innovate in an ever changing market environment.
By taking advantage of this cutting edge technology, business owners will create significant advantage through scale, over those who wait.
The future looks bright, and I hope you are as excited as I am!
- Bren, and the AI that helped put this blog together.
